With Diageo buying major stake in United Beverages, one can only wait and see whether Mallya will pump the money into his run-down airlines.
We are tilted to think that even though Mr. Vijay Mallya has denied it, that’s exactly what is going to happen…
Note: We at trak.in would really like to know your feedback on our toons….
Vijay is a Start-Up Entrepreneur and Co-Founder of a Kochi based Social Media Marketing firm - IZE Creative. He is also a part time blogger, graphic designer, IEEE Volunteer and in free time loves to draw cartoons, most of which are released under "The Nonsense Times"
Recover your password.
A password will be e-mailed to you.
Hi Vijay,
The cartoon is true. However I have the following to say.
The flow of money from Diageo to KFA will have a stop over in USL. So the petrol pipe handle should be shown as USL.
More over the figure 2 million in the news have been 2 billion.
Now I would like to write the following for the readers of Trak.
The Diageo money of 2 billion will not go to Mallya’s pocket. It has structured buyout plan.
Phase 1 :
Out of the holding of 34.8%, UBH will sell 19.3% to Diageo for 3,635 crores. (Please note this amount will go to UBH. Not to Mallya directly) How this benifits KFA???
Phase 2 :
USL will issue new shares to Diageo amounting to 10% of the post issue capital for 2,092 crores. (Please note that this amount will go to USL. Not to Mallya directly) How this benifits KFA??
Phase 3 :
Step 1 & 2 will lead Diageo to go for Mandatory Open offer for aquisition of 26% stake from Non Promoter shares for 5,441 crores. (Please note that this amount will go to Public. Not to Mallya / UBH / USL in anyway). How this benifits KFA??
Phase 3 money will go to public coz Diageo is buying in open offer.
Mallya can play around in Phase 1 & 2 money only.
UBH has its own debt of about 2,000 crores. USL has its own debt of 8,000 crores.
Now we have to wait and see how Mallya will adjust the 5,600 crores of UBH and USL.
Will he retire UBH / USL debts?
Will he ask UBH / USL to provide some cash to KFA?
OR if we go by the charector of Mallya,
Will he buy another IPL team or another air line or another Formula 1 or another luxury yatch or another villa??
Wait and watch !!!
Just my two paisa :)
Vijay Mallaya has no other source other than this and he has tried in all his better ways to close his debts and also on roll staffs of his company are planning strike after diwali if not salary received. Mallya luxurious life with several bungalows and modern hitech cars life is slowly getting diminished as all money belongs to this stake holders. He will be the director for some time and major stake holder will be the main after short time. All of his bank accounts mainly in Central Bank of India is closed and now planning to release the same..